Transcript

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>> Vancouver's arrest of Meng Wanzhou, a top executive at China's Huawei and the daughter of its founder drawing swift condemnation from China amid fears it could signal an abrupt end to a truce in the US trade war with China. Meng Huawei CFO was taken into custody last week at the request of US authorities.

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The arrest revealed by authorities on Wednesday just days after China and the US agreed to a 90-day ceasefire in a tit-for-tat tariff battle started by President Donald Trump. That ceasefire now in doubt. The Chinese foreign ministry on Thursday demanding Meng's release.>> Regarding the case you mentioned, China has expressed solemn representations to Canada and the United States respectively.

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Demanding they immediately clarify their reasons for the arrest, immediately release the arrested person, and truly protect the legitimate rights and interest of the person involved.>> Canadian Prime Minister Justin Trudeau denying any political motivation in the arrest.>> The appropriate authorities took the decisions in this case. We were advised by them with a few days notice that this was in the works.

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But, of course, there was no involvement in the political level in this decision, because we respect the independence of our judicial processes.>> Sources told Reuters the arrest is tied to violations of US sanctions including accusations of bank fraud as authorities probe whether Huawei may have shipped products illegally from the US to Iran.

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Huawei is the world's second biggest smartphone maker and a key player in China's technology push from chips to 5G networks. Huawei said in a statement it was not aware of any wrongdoing by Meng, who faces extradition to the United states shares an Asian suppliers to Huawei were hit hard in a sell off that dragged down shares in Asia and unnerved US investors.